eSett is a company providing imbalance settlement services to electricity market participants in Finland, Norway and Sweden.

eSett in brief

 

  • Responsible for imbalance settlement and invoicing of the Balance Responsible Parties in Finland, Sweden and Norway
  • Carries out the imbalance settlement based on harmonized model throughout the Nordics and provides equal operational preconditions for Balance Responsible Parties
  • Serves more than 1000 electricity market participants in the Nordics
  • Headquarter of eSett is in Finland, the company was founded in 2013 and its operations started in 2017
  • Jointly owned by the three Nordic Transmission System Operators Fingrid (Finland), Statnett (Norway) and Svenska kraftnät (Sweden) with equal shares

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eSett – We settle, together!

With the mandate given by the Transmission System Operators, eSett’s aim is to provide transparent and precise imbalance settlement to its customers and enable the further electricity market development also in the future by being a forerunner in the international energy settlement. You can learn more about eSett and imbalance settlement in general from the animation video below.

Background

In 2010, the Nordic TSOs Fingrid, Svenska kraftnät and Statnett agreed to form a joint project with the objective to establish a common imbalance settlement for three of the Nordic countries. The initiative was called Nordic Imbalance Settlement (NBS). The common Nordic Imbalance Settlement was supported by the governments and regulators in the Nordic countries and was regarded as an important step towards a fully functional common Nordic retail market. From this objective, a joint service company, owned by three TSOs with equal shares, was established.

The company is headquartered in Helsinki, Finland and was formed in the beginning of 2013 to support the transition towards a harmonized model for imbalance settlement. During the year 2017, eSett took over the operational responsibility for the imbalance settlement and invoicing of the market participants in Finland, Norway and Sweden by the commissioning of the Nordic imbalance settlement model.